Retailers Call ‘No UPI Day’ on October 2 to Protest Proposed MDR Charges
What Happened
All India Mobile Retailers Association (AIMRA) has announced a nationwide “No UPI Day” on October 2, urging merchants to avoid accepting UPI payments for a day. The protest is aimed at opposing proposals to impose a Merchant Discount Rate (MDR) on UPI transactions, which retailers fear would increase costs for small businesses.
Key Takeaways
The move highlights growing concerns among merchants that introducing MDR on UPI payments could raise transaction costs and reduce the attractiveness of India's most widely used digital payment system. The protest is expected to renew debate over who should bear the cost of maintaining the UPI ecosystem.